Corporate income tax solutions in Hungary
Handling corporate income tax is an essential aspect of a company’s financial duties in Hungary. It involves a thorough comprehension of intricate regulations and meticulous attention to detail. Our strategy is designed to assist businesses in addressing these challenges with assurance, guaranteeing compliance while uncovering prospects for tax optimization. By emphasizing precision and strategic understanding, we aid companies in fulfilling their tax responsibilities effectively and efficiently, offering reassurance in a constantly changing tax environment.
Corporate income tax rate
Hungary has a corporate income tax rate of 9%, which is among the lowest in the European Union. Companies based in Hungary are taxed on their global income, whereas non-resident companies are taxed solely on their income sourced in Hungary. The taxation framework features several incentives and exemptions, especially aimed at investments and R&D efforts.
Our corporate income tax services
We provide a wide range of services aimed at helping businesses manage the intricacies of corporate income tax in Hungary. Our objective is to achieve complete compliance while enhancing your tax situation, so you can concentrate on expanding your business. Our offerings include:
Corporate income tax compliance
We offer Corporate Income Tax Compliance services that guarantee your tax returns are correctly prepared and submitted punctually, fully complying with local and international tax laws. Our team assists you throughout the process, offering professional guidance on the required documentation and filing deadlines. This helps your business maintain compliance and reduces the likelihood of facing penalties or other tax-related problems.
Corporate income tax planning
We provide Corporate Tax Planning services designed to create tax-efficient strategies that reduce your tax obligations. Our team collaborates with you to recognize and make the most of all available credits, deductions, and exemptions. Additionally, we help in planning your annual and quarterly tax estimates and payments, making sure that your tax strategy is compliant and aligned with your overall financial goals.
Corporate income tax accounting
In Corporate Income Tax Accounting, we offer extensive assistance in determining both current and deferred tax obligations. Our services encompass making certain that your financial reports comply fully with accounting standards like IFRS and GAAP. Additionally, we manage the reconciliation of tax accounts with your general ledger balances, delivering precise and clear financial statements that accurately portray your company’s actual financial status.
Tax audits and representation
If your business faces a tax audit, our Tax Audits and Representation services are available to help you. We aid in preparing all required documentation and represent you in discussions and conflict resolutions with Hungarian tax authorities. Moreover, we conduct pre-audit reviews to detect and resolve any possible compliance concerns before they escalate into major issues, making sure your business is thoroughly prepared for any examination.
State and local corporate income tax compliance
For companies functioning in various jurisdictions, our State and Local Corporate Tax Compliance services guarantee the effective management of your tax filings and payments across multiple locations. We offer comprehensive advice on adhering to specific state and local tax laws and regulations, including insights on nexus and state tax responsibilities. This support enables you to confidently navigate the intricate world of state and local taxation.
International corporate income tax advisory
Our international corporate tax advisory service is designed to assist businesses with operations across multiple countries in understanding the intricacies of international taxation. We provide strategic advice on cross-border transactions, transfer pricing, and leveraging tax treaty benefits, ensuring compliance and tax efficiency for your global activities. Our team offers expert support in organizing your international business operations to maximize tax benefits, tackling key challenges such as permanent establishment risks, profit repatriation, and the administration of foreign tax credits. This service is well-suited for companies aiming to grow their global footprint while effectively handling their international corporate tax responsibilities.
Corporate income tax system
Grasping the complexities of Hungary’s corporate income tax system is crucial for any business operating inside or outside the jurisdiction. Our expertise offers a thorough understanding of the tax system, including the conditions under which corporate income tax is levied. We assist you in navigating the thresholds, exemptions, and specific regulations that shape Hungary’s tax environment, ensuring your business remains compliant while strategically optimizing tax efficiency. With a clear comprehension of the corporate income tax system, you will be empowered to make informed decisions that align with your company’s financial objectives and reduce potential tax liabilities.
Contact us
To learn more about our corporate income tax services or to explore how we can help, get in touch with us.
Disclaimer
Tax laws and regulations frequently change and can differ depending on personal circumstances. The information shared here serves as general guidance and may not represent the latest updates. It is strongly advised to seek the assistance of a qualified tax professional for comprehensive and current advice tailored to your specific situation.